The Securities & Exchange Commission of Pakistan (SECP) has registered 26,502 new companies during Fiscal Year 2021-22 (FY22), showing an increase of 4 percent against the last fiscal year. Now, the total number of registered companies with SECP stands at 172,206.
According to the sources, the real estate development and construction sector led the total number of new incorporations with 4,791 new companies registered, then information technology with 3,760 new companies and trading with 3,534 new companies.
Due to end-to-end digitization of the company incorporation development, around 99.5 percent of companies were registered online whereas 1,640 foreign users were registered from overseas.
SECP has made substantial developments in a bid to facilitate the registration of companies by completely digitizing the registration process, together with company registration certificates. This automation helps the companies to be registered online from any part of the world, even without visiting SECP offices.
Read more: Total companies registered by SECP goes up to 169,919 till May 2022
Besides, an online portal has also been launched for banks for the facilitation of companies in opening corporate accounts after registration. SECP has initiated a WhatsApp helpline too to provide immediate help to the investors.
During the financial year 2022, almost 64 percent of companies were registered as private limited companies, whereas 33 percent were registered as single-member companies.
SECP data further depicts the services sector having 2,408 new incorporations, e-commerce with 1,038, education with 962, food & beverages 937, tourism 790, textile 701, marketing & advertisement 671, corporate agricultural farming 622, engineering 611, and pharmaceutical with 534 new incorporations. A number of other sectors have also been incorporated.
Moreover, foreign investment has been reported in 672 new companies including Afghanistan, Austria, Azerbaijan, Australia, Bangladesh, Belgium, Bahrain, Myanmar, Canada, and a number of other countries.
After the integration of SECP with the Federal Board of Revenue (FBR) and several provincial sectors, 25,042 companies were registered with FBR for the generation of National Tax Number (NTN), 539 companies had Employees’ Old-Age Benefits Institution (EOBI), and 234 companies with Punjab Employees Social Security Institution and Sindh Employees Social Security Institution PESSI/SESSI and 343 companies with Excise and Taxation department.
